Canada’s economy added 11,200 jobs in October, pushing the unemployment rate down to 5.8 per cent (-0.1 percentage points), according to the most recent Statistics Canada .
Highlights in October
- The unemployment rate decreased 0.1 percentage points to 5.8 per cent as fewer people searched for work.
- Since November 2017, the unemployment rate has ranged consistently between 5.8 per cent and 6.0 per cent.
- In the 12 months to October, the number of employed people grew by 206,000 (or 1.1 per cent), with most gains in full-time work (+173,000).
October employment was little changed overall throughout the provinces. British Columbia remains the province with the lowest unemployment rate.
- While employment was little changed in Ontario, there were fewer people looking for work, lowering the unemployment rate to 5.6 per cent (-0.3 percentage points).
- In British Columbia, employment held steady in October, following a notable increase the month before. At 4.1 per cent in October, the unemployment rate was the lowest among the provinces.
- In Alberta, employment held steady and the unemployment rate was 7.3 per cent, up 0.3 percentage points. Looking at longer term trends, total employment in the province has been increasing since the summer of 2016. Since May 2018, unemployment has risen, driven by more men looking for work.
What employers need to know
If your company is pulling out all the stops — from competitive compensation to outstanding perks — and not making much headway with potential hires, you may want to assess the quality of your organizational culture. If your firm’s work environment is unattractive, or simply unremarkable, it could be contributing to your hiring challenges. And if you have a great corporate culture, but you’re doing little or nothing to promote it externally, that could be hurting you, too.
Organizational culture is a make-or-break factor in hiring (and retention). Robert Half research shows a professional’s fit — or lack thereof — with an employer’s workplace culture can strongly influence that person’s decision to work for the firm.
So, take stock of what you’re doing to foster a positive work environment. Also, think of how to draw attention to your workplace culture, such as through social media or in job descriptions.
What job seekers need to know
Can there really be too much of a good thing? That answer may be “yes” for highly skilled professionals who are currently pursuing new employment opportunities.
It’s not unusual for in-demand candidates, especially in top markets, to find they have multiple job offers to consider. While that sounds like a good problem for a job seeker to have, the decision-making process can be agonizing if the opportunities are all compelling — especially from a compensation perspective.
But it’s essential for candidates to keep one key thing in focus when evaluating any job opportunity: fit with the organizational culture. Here’s why: It doesn’t matter what level of pay or what type of perks you receive if you don’t find the work environment appealing — or you discover too late that it’s downright toxic.
So, be sure to do your homework on the company’s culture before applying for a job. During the hiring process, ask questions such as, “What do you like most about work here?” and “What attributes do I need to succeed at this company?” The answers you hear can help you determine if you would be a good match for the company and, most important, if the company would be a good match for you.